NEWS
Private equity group Pegasus buys Six Senses
POSTED 10 Apr 2012 . BY Tom Walker
US-based private equity group Pegasus Capital Advisors has entered into a binding agreement to acquire luxury resort and spa businesses of Six Senses Resorts & Spas for an undisclosed sum.

Under the terms of the deal, Pegasus will acquire all of the Six Senses and Evason-branded resort and spa management contracts and related intellectual property rights and operate them under a new company managed by Pegasus and its affiliates.

Six Senses currently manages 10 resorts and 28 spas in 20 countries around the world, with another 15 under construction or development.

Bernhard Bohnenberger, president of Six Senses, will continue in his role and will head operations out of the Six Senses' Bangkok office.

The Soneva brand and resorts, as well as the company's real estate assets and holdings, however, are not included in the transaction.

Soneva will continue to be led by Sonu Shivdasani, the founder and CEO of Six Senses, who will serve as chair and CEO and principal shareholder of The Soneva Group.

Craig Cogut, founder of Pegasus Capital Advisors, said the deal will allow Six Senses to grow its brand further.

"Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets," he said.

"We're confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognized leader in luxury hospitality."

Sonu Shivdasani added: "This transaction will allow me to focus solely on the development of the Soneva portfolio of resorts and real estate assets, and allow the Soneva and Six Senses brands to flourish independently of each other.

The transaction is expected to be completed by July 2012.

Established in 1995, Pegasus currently manages approximately US$2.5bn (1.9bn euro, £1.6bn) in assets through several private equity funds and has made more than 80 investments since its inception.
 


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latest spa news

10 Apr 2012

Private equity group Pegasus buys Six Senses

BY Tom Walker

US-based private equity group Pegasus Capital Advisors has entered into a binding agreement to acquire luxury resort and spa businesses of Six Senses Resorts & Spas for an undisclosed sum.

Under the terms of the deal, Pegasus will acquire all of the Six Senses and Evason-branded resort and spa management contracts and related intellectual property rights and operate them under a new company managed by Pegasus and its affiliates.

Six Senses currently manages 10 resorts and 28 spas in 20 countries around the world, with another 15 under construction or development.

Bernhard Bohnenberger, president of Six Senses, will continue in his role and will head operations out of the Six Senses' Bangkok office.

The Soneva brand and resorts, as well as the company's real estate assets and holdings, however, are not included in the transaction.

Soneva will continue to be led by Sonu Shivdasani, the founder and CEO of Six Senses, who will serve as chair and CEO and principal shareholder of The Soneva Group.

Craig Cogut, founder of Pegasus Capital Advisors, said the deal will allow Six Senses to grow its brand further.

"Going forward, the new Six Senses will be a debt-free company with committed capital for expansion into new and within existing international markets," he said.

"We're confident that our president Bernhard Bohnenberger and our strong management team will continue to build on its legacy as a recognized leader in luxury hospitality."

Sonu Shivdasani added: "This transaction will allow me to focus solely on the development of the Soneva portfolio of resorts and real estate assets, and allow the Soneva and Six Senses brands to flourish independently of each other.

The transaction is expected to be completed by July 2012.

Established in 1995, Pegasus currently manages approximately US$2.5bn (1.9bn euro, £1.6bn) in assets through several private equity funds and has made more than 80 investments since its inception.



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